See the sign Shave and Haircut 2 bits to the far
much is 2 Bits?
Below for the answer
the colonial days, people used coins from all over the world.
The most commonly used coin was the Spanish milled dollar.
When our nation adopted an official currency, the Spanish
Milled Dollar was chosen, and it later became the model for
American silver dollars.
"That will be two bits, sir."
The Spanish milled dollars were easily cut apart into equal
"bits" of 8 pieces. One "bit" would
be equal to 1/8 of a dollar, and 2 bits would equal 2/8
(or 1/4 - a quarter of a dollar). So, it is easy to see
why the coins were called "pieces of eight", and
"2 bits" was commonly used to refer to 25 cents.